Peter Navarro, the White House Trade Advisor, announced in a Bloomberg interview that American innovation will soon boost domestic production and end China’s dominance of critical minerals, noting that China currently wields over 90% of global refining capacity but can no longer maintain a monopoly.
According to Bloomberg, Navarro said that China believes it holds a monopoly on critical minerals due to its dominant refining capacity. He mentioned that China threatens to restrict exports to the U.S., Europe, and India as leverage in global disputes. However, Navarro added that this situation is temporary, with American innovation expected to reduce China's control over these resources.
The International Energy Agency (IEA) reported that China has the largest share of global production and refining for rare earth magnets used in technology and defense applications. IEA data indicate that China holds the overwhelming majority of rare earth magnet production capacity, affecting supply availability for manufacturers worldwide.
The U.S. Department of Defense added Contemporary Amperex Technology Co. Limited (CATL) to its Chinese military companies list in January 2025 due to ties to military-civil fusion. The House Select Committee on the Chinese Communist Party (CCP) reported that CATL supports Chinese military battery technology development, raising security concerns over Ford’s Michigan partnership. CATL has invested over $1.4 billion in global minerals, including Bolivia’s lithium and Indonesia’s nickel, reinforcing China’s rare earth production capabilities.
Navarro is an American economist and author serving as White House Trade Advisor under President Donald Trump. His focus includes trade policy, economic strategy, and issues related to China. He has written extensively on trade, manufacturing, and economic policy and previously taught at the University of California, Irvine. Navarro is known for his advocacy of protectionist trade measures and efforts to strengthen U.S. domestic manufacturing.
